The global internet of things (IoT) security market accounted for USD 6.62 billion in 2016 growing at a CAGR of 35.52% during the forecast period of 2019 to 2026.
Market Definition: Internet of Things (IoT) Security Market
IoT security is the area connected with safeguarding connected devices networks in the IoT. IoT security has led to re-engineer the authentication and authorization for the new and improved IoT connected world. It also requires a degree of user-intervention in terms of configuration and provisioning. It has its wide application in smart manufacturing, smart energy and utilities, connected logistics, consumer wearables, connected healthcare, smart government and defense, connected vehicles, smart retail, and others. Increasing need for data-centric security acts as the major driver in the growth of internet of things (IoT). On the other hand endless variety of IoT applications may hinder the market.
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Major Market Drivers & Restraints are as follows:
- Increasing need for data-centric security
- Increase in risk-based adaptive security for IoT ecosystem
- Increasing ransomware attacks on IoT systems
- Securing ubiquitous environment
- Physical restraint of IoT devices
- Endless variety of IoT applications
Key Market Competitors: Internet of Things (IoT) Security Market
Few of the major competitors are Geographic Revenue Mix , Cisco Systems, Inc , BM Corporation , Infineon Technologies , Intel Corporation, Symantec Corporation , Arm Holdings PLC , Check Point Software Technologies Ltd , Trend Micro, Inc , PTC,Inc , Gemalto NV , Sophos Group PLC , Inside Secure , Wurldtech Security Technologies Inc, and others.
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Market Segmentation: Internet of Things (IoT) Security Market
The global internet of things (IoT) security market is segmented on the basis of component into Services, Solutions.
On the basis of type, the global internet of things (IoT) security market is further segmented into network security, endpoint security, application security, cloud security.
On the basis of solution, the global internet of things (IoT) security market is segmented into identity access management, data encryption and tokenization, intrusion detection system/intrusion prevention system, device authentication and management, secure software and firmware update, secure communications, PKI lifecycle management, distributed denial of service protection, security analytics.
On the basis of service, the global internet of things (IoT) security market is segmented into professional services, and managed services. The professional services is further sub segmented into integration services, support and maintenance, and consulting services
On the basis of application, the global internet of things (IoT) security market is segmented into smart manufacturing, smart energy and utilities, connected logistics, consumer wearables, connected healthcare, smart government and defense, connected vehicles, smart retail, and others.
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The report for global internet of things (IoT) security market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.
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